April gold closed lower on Friday as it extends this week's decline below the 20-day moving average crossing at 1117.10. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term.

If April extends this week's decline, the reaction low crossing at 1088.50 is the next downside target. Closes above Wednesday's high crossing at 1128.30 would temper the near-term bearish outlook in the market. First resistance is Wednesday's high crossing at 1128.30.

Second resistance is last Wednesday's high crossing at 1145.80. First support is today's low crossing at 1097.30. Second support is the reaction low crossing at 1088.50.

May silver closed lower on Friday and below the 10-day moving average crossing at 17.126 signaling that a short-term top has likely been posted. The low-range close sets the stage for a steady to lower opening on Monday.

Stochastics and the RSI are turning bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 16.616 would confirm that a short-term top has been posted. If May renews the rally off February's low, the 75% retracement level of the aforementioned decline crossing at 18.293 is the next upside target.

First resistance is Wednesday's high crossing at 17.665. Second resistance is the 75% retracement level of the December-February decline crossing at 18.293. First support is Thursday's low crossing at 16.835. Second support is the 20-day moving average crossing at 16.616.

May copper closed higher due to short covering on Friday as it consolidates above the 75% retracement level of the January-February decline crossing at 336.91. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are diverging and are neutral to bearish hinting that a short-term top might be in or is near.

Closes below the 20-day moving average crossing at 332.67 would confirm that a short-term top has been posted. If May renews the rally off February's low, January's high crossing at 355.00 is the next upside target. First resistance is last Monday's high crossing at 348.70. Second resistance is January's high crossing at 355.00. First support is Thursday's low crossing at 333.85.

Second support is the 20-day moving average crossing at 332.67.